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Shoppers failing to redeem gift cards
RetailMeNot.com, the largest online coupon site in the United States, said a report it commissioned found that while 50 percent of consumers say they spend 100 percent of the gift cards or gift certificates they receive, more than 1 in 4, or 27 percent, say they usually only use up to half of the value of those gift cards or gift certificates when shopping.
"Consumers are leaving money on the table by not using the total value of their gift cards," said Trae Bodge, senior editor of the RetailMeNot blog. "End-of-year clearance sales after Christmas are the perfect opportunity to get some great last-minute deals."
The vast majority of consumers polled either sometimes, frequently or always (75 percent) take advantage of end-of-the-year sales. Only 7 percent of consumers say they never shop the end-of-year sales. Of consumers wanting to make a big purchase, 31 percent are waiting for the year-end clearance sales because they anticipate last-minute deals, according to the survey conducted by The Omnibus Co.
Of those who received gift cards or gift certificates, 69 percent of consumers said they would not return unwanted gifts, instead choosing to store them, "regift" them or donate them to charity.